Commentaries

10 June 2021

Valentin Betrix

RAM Active Investments  RAM (Lux) Systematic Funds - US Sustainable Equities Maxime Botti Partner & Senior Systematic Equity Fund Manage

The RAM (Lux) Systematic Funds - US Sustainable Fund (Class-PI USD net of fee*) posted a performance of 2.93%, outperforming the MSCI USA TRN$ (0.44%) in May.

While the economy retained strong positive momentum, US equity market kept pushing higher in May. The MSCI USA TRN$ returned 0.44%. The outperformance was driven by the model’s strong selection across sectors, as the market continued to favour stocks with attractive valuation and strong fundamentals. The fund is still underweight mega-cap names, such as Tesla, Apple and Amazon which helped reduced volatility and improved the return of the overall selection. For the last few weeks, the strategy has been building an overweight exposure in the IT sector, as valuations become more attractive. The sustainability profile of the fund remains strong, with a AAA MSCI Rating and Carbon Intensity 50% lower than the Benchmark (66 Vs 132 TCO2/$M Sales). Low carbon companies performed in line with the market, while ESG leaders slightly outperformed.

Source: RAM Active Investments